(Adds details on results, executive quote, expected share
movement)
Oct 3 (Reuters) - Ted Baker Plc on Thursday warned
yet again that its full-year profit would be hurt, as warmer
weather in September, sharp discounting across the industry and
tepid consumer demand takes its toll on British retailers.
The company, which installed new executives recently, posted
a first-half pretax loss and cautioned that second-half results
would be lower if the hurdles persist.
"Trading conditions have been characterised by unprecedented
and sustained levels of promotional activity across the sector
with, in several cases, distressed discounting from brands and
retailers and heightened competition," Ted Baker Chairman David
Bernstein said.
Shares of the company are seen opening 5% to 20% lower,
according to premarket indicators by traders.
The company, which had earlier flagged an "extremely
difficult" start to the year, reported a pretax loss of 23
million pounds ($28.27 million), compared to a profit of 24.5
million pounds a year ago, for the six months ended Aug. 10.
Ted Baker reported its first drop in full-year profit since
2008 in March, as traditional brick and mortar apparel chains
suffered from online competition and slack consumer spending.
The company said in June it expects full-year underlying
pretax profit to be in the range of 50 million pounds to 60
million pounds.
($1 = 0.8136 pounds)
(Reporting by Tanishaa Nadkar and Pushkala Aripaka in
Bengaluru; Editing by Bernard Orr)